Mr Buchheit, very prepared and professional. I hope he will keep this professionalism and propose a restructuring for Venezuela where creditors will not be punished trusting and helping the people of Venezuela by giving them funds. It is good to preserve Venezuela assets, however, creditors should only be patient and not suffering any loss from a country, Venezuela that has billions and billions of natural resources, probably the richest country in the world in term of resources. Pari passu also shall be followed. No creditors are better than others (even if Goldman Sachs bonds were paid and also CITGO creditors were paid) this should not be the norm. Everyone should be treated the same. Debt haircut cannot be an option for such a rich country, extending the debt repayment dates would relieve the country and new investments will make it grow.
I think that the existence of the government is more complex than this. Take Belgium: more than 6 months without government, Belgium actually exists and its economy is though fragile, not at the critical point of default. I can't prove the point through rigorous demonstration, but the counter-example might be already sufficient.
Great content. So rare to find something this deep online
Lovely. Very competent and wise lawyer!
Wow! I mean, Wow! This guys *gets it*!
great speaker and great knowledge
What is the line item on IMF is not big enough to handle the sovereign debt....???
Mr Buchheit, very prepared and professional. I hope he will keep this professionalism and propose a restructuring for Venezuela where creditors will not be punished trusting and helping the people of Venezuela by giving them funds. It is good to preserve Venezuela assets, however, creditors should only be patient and not suffering any loss from a country, Venezuela that has billions and billions of natural resources, probably the richest country in the world in term of resources. Pari passu also shall be followed. No creditors are better than others (even if Goldman Sachs bonds were paid and also CITGO creditors were paid) this should not be the norm. Everyone should be treated the same. Debt haircut cannot be an option for such a rich country, extending the debt repayment dates would relieve the country and new investments will make it grow.
If the entire government of a country resigns from office are there debts no longer valid because the country that owes money no longer exists
I think that the existence of the government is more complex than this. Take Belgium: more than 6 months without government, Belgium actually exists and its economy is though fragile, not at the critical point of default. I can't prove the point through rigorous demonstration, but the counter-example might be already sufficient.